FOREX ANALYSIS: Canadian Dollar Forecast to Strengthen

ssi_usd-chf_body_Picture_2.png, FOREX ANALYSIS: Canadian Dollar Forecast to Strengthen

USDCAD Retail forex trading crowds have increased their net-long US Dollar (ticker: USDOLLAR) position against the Canadian Dollar, and a contrarian view of crowd sentiment favors USDCAD declines.

Crowd net positioning is now at its most bullish since the pair traded below C$0.9900 in October, and such one-sided sentiment warns that the pair could continue lower.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3693-0.0017-0.13%
    USDSGD=X
    1.5094-0.0031-0.20%
    EURSGD=X
    2.0874-0.0038-0.18%
    GBPSGD=X
    87.6342+0.0335+0.04%
    SGDJPY=X
    5.6644+0.0079+0.14%
    SGDHKD=X
    2.6695+0.0056+0.21%
    SGDMYR=X
    9,475.9756-28.0625-0.30%
    SGDIDR=X
    4.5763+0.0052+0.11%
    SGDCNY=X
    1.0680+0.0011+0.10%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,198.10+1.90+0.16%
    GCJ15.CMX
    16.160.00+0.01%
    SIK15.CMX
    72.53-0.16-0.22%
    ^XAU
    2.660.00+0.11%
    HGK15.CMX
    51.08+0.32+0.63%
    CLJ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.57-0.03
    ^FVX
    2.11-0.01
    ^TNX
    2.720.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    100.00-0.01-0.01%
    41H.SI
    1.25+0.02+1.63%
    41I.SI
    1.05+0.04+4.48%
    N21.SI
    0.93-0.02-2.11%
    G13.SI
    0.82+0.03+4.46%
    A26.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    1.25+0.02+1.63%
    41I.SI
    0.168+0.020+13.51%
    S71.SI
    0.119+0.014+13.33%
    5CH.SI
    0.194+0.019+10.86%
    5OQ.SI
    0.185-0.040-17.78%
    MR8.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.12-0.02-11.11%
    P07.SI
    0.645-0.050-7.19%
    TI6.SI
    0.33-0.02-7.04%
    D03.SI
    0.098-0.007-6.67%
    A18.SI
    0.285-0.020-6.56%
    T4B.SI